Carrier Global Corporation (NYSE:CARR) Given Average Rating of “Hold” by Brokerages

Carrier Global Corporation (NYSE:CARR) has been given an average recommendation of “Hold” by the nineteen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.9375.

A number of research firms recently weighed in on CARR. Barclays cut their target price on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group decreased their price objective on shares of Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company dropped their target price on Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Finally, Citigroup cut their price target on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th.

Hedge Funds Weigh In On Carrier Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Carrier Global by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock worth $6,833,980,000 after acquiring an additional 450,594 shares during the period. Capital International Investors raised its stake in shares of Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after purchasing an additional 3,630,524 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Carrier Global by 23.8% during the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the last quarter. State Street Corp lifted its holdings in shares of Carrier Global by 1.4% during the third quarter. State Street Corp now owns 33,377,339 shares of the company’s stock worth $1,992,627,000 after purchasing an additional 473,692 shares during the period. Finally, Fisher Asset Management LLC grew its position in Carrier Global by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock valued at $903,807,000 after buying an additional 90,585 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 4.0%

NYSE:CARR opened at $52.36 on Monday. Carrier Global has a 12-month low of $50.30 and a 12-month high of $81.09. The firm has a market cap of $44.10 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $57.71 and a 200 day moving average price of $66.14.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.Carrier Global’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Sell-side analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th were paid a $0.225 dividend. The ex-dividend date was Wednesday, October 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.7%. Carrier Global’s payout ratio is currently 20.13%.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.